In our February "how can we help you?" thread, a reader asks:
I would love to hear any thoughts on 4-year versus 5-year PhD programs (for example at U Toronto). If I have a choice between them and equal annual funding for each, is it crazy not to take the five-year option with an extra year to prepare for the job market? Or is it crazy to not take the opportunity to do the PhD in two years, given that I have an MPhil as it is?
Excellent questions. Of course, a lot depends here on the actual programs here (which is a better fit for the OP's interests, which has a better climate for grad student, better mentoring, a better placement record, etc.). I'd advise focusing on those things first and foremost. But bearing all that mind, if all other things are equal, I'd absolutely go for the 5 year program, and not just because of the extra time to prepare for the market. Just as relevant here, I think, is how things can 'go sideways' at the dissertation stage. Dissertations often don't go remotely according to plan, and can take years longer than one expects–in which case a year of extra funding can be really critical for even finishing the program (without going into a ton of debt).
Finally, this probably goes without saying, but I'd advise the OP to take care to double-check on just how much their MPhil will count in the PhD program. My understanding is that at many PhD programs, students with MA's aren't excused from much (if any) coursework–so, if you have to take courses and write a dissertation, 4 years of funding is really not a lot of time at all: I took 6 years to finish at Arizona after I had the equivalent of an MA, and this wasn't uncommon at all for PhD students back in my time (though it's been a while now, and I know a lot has changed, including the length and nature of dissertations).
But these are just my thoughts. What are yours?
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